Honda said it would put on hold for "approximately two years" a $15-billion electric vehicle investment project in Ontario to build an EV supply chain in Alliston.

Honda said on Monday that it would shift production of one of its popular vehicles from Ontario to a U.S. factory and postpone an $11 billion plan to make electric vehicles and batteries in Canada.

Two major Japanese automakers have warned that earnings will be hit hard by U.S. tariffs, underlining the risk of an industrywide downturn that could stunt Japan’s economic recovery.